1990s. In 1992–93 the economy recovered slowly from the prolonged recession of 1990–91, a major restraining factor being weak world demand for Australia's exports. Growth picked up so strongly in 1994 that the government felt the need for fiscal and monetary tightening by yearend. Australia's GDP grew 6.4% in 1994, largely due to increases in industrial output and business investment. A severe drought in 1994 reduced the value of Australia's net farm production, but rising world commodity prices are likely to boost commodity exports by 15% to $42.4 billion in 1995/96, according to government statistics. Short-term economic problems include a balancing of output growth and inflationary pressures and the stimulation of exports to offset rising imports.
GDP: purchasing power parity - $405.4 billion (1995 est.)
GDP real growth rate: 3.3% (1995 est.)
GDP per capita: $22,100 (1995 est.)
GDP composition by sector: agriculture: 3.1% industry: 27.7% services: 69.2% (1994)
Inflation rate (consumer prices): 4.75% (1995)
Labor force: 8.63 million (September 1991) by occupation: finance and services 33.8%, public and community services 22.3%, wholesale and retail trade 20.1%, manufacturing and industry 16.2%, agriculture 6.1% (1987)
Unemployment rate: 8.1% (December 1995)
Budget:
revenues: $95.69 billion
expenditures: $95.15 billion, including capital expenditures of $NA
(FY95/96 est.)
Industries: mining, industrial and transportation equipment, food
processing, chemicals, steel
Industrial production growth rate: 3.9% (FY93/94)
Electricity: capacity: 34,540,000 kW production: 155 billion kWh consumption per capita: 8,021 kWh (1993)
Agriculture: wheat, barley, sugarcane, fruits; cattle, sheep, poultry
Illicit drugs: Tasmania is one of the world's major suppliers of licit opiate products; government maintains strict controls over areas of opium poppy cultivation and output of poppy straw concentrate
Exports: $51.57 billion (f.o.b., 1995)
commodities: coal, gold, meat, wool, alumina, wheat, machinery and
transport equipment
partners: Japan 25%, US 11%, South Korea 6%, NZ 5.7%, UK, Taiwan,
Singapore, Hong Kong (1992)
Imports: $57.41 billion (f.o.b., 1995) commodities: machinery and transport equipment, computers and office machines, crude oil and petroleum products partners: US 23%, Japan 18%, UK 6%, Germany 5.7%, NZ 4% (1992)
External debt: $147.2 billion (1994)
Economic aid: donor: ODA, $953 million (1993)
Currency: 1 Australian dollar ($A) = 100 cents
Exchange rates: Australian dollars ($A) per US$1 - 1.3477 (January 1996), 1.3486 (1995), 1.3668 (1994), 1.4704 (1993), 1.3600 (1992), 1.2835 (1991)
Fiscal year: 1 July - 30 June
Transportation———————
Railways:
total: 38,563 km (2,914 km electrified; 172 km dual gauge)
broad gauge: 6,083 km 1.600-m gauge
standard gauge: 16,752 km 1.435-m gauge
narrow gauge: 15,728 km 1.067-m gauge
Highways:
total: 810,264 km
paved: 283,592 km (including 1,200 km of expressways)
unpaved: 526,672 km (1989 est.)
Waterways: 8,368 km; mainly by small, shallow-draft craft
Pipelines: crude oil 2,500 km; petroleum products 500 km; natural
gas 5,600 km
Ports: Adelaide, Brisbane, Cairns, Darwin, Devonport, Fremantle,
Geelong, Hobart (Tasmania), Launceton (Tasmania), Mackay, Melbourne,
Sydney, Townsville
Merchant marine:
total: 76 ships (1,000 GRT or over) totaling 2,547,869 GRT/3,679,534
DWT
ships by type: bulk 30, cargo 4, chemical tanker 3, combination bulk
1, container 6, liquefied gas tanker 6, oil tanker 18,
roll-on/roll-off cargo 7, short-sea passenger 1 (1995 est.)
Airports:
total: 442
with paved runways over 3 047 m: 9
with paved runways 2 438 to 3 047 m: 13
with paved runways 1 524 to 2 437 m: 106
with paved runways 914 to 1 523 m: 116
with paved runways under 914 m: 30
with unpaved runways 1 524 to 2 437 m: 22
with unpaved runways 914 to 1 523 m: 146 (1995 est.)
Communications———————
Telephones: 8.7 million (1987 est.)
Telephone system: good domestic and international service domestic: domestic satellite system international: submarine cables to New Zealand, Papua New Guinea, and Indonesia; satellite earth stations - 10 Intelsat (4 Indian Ocean and 6 Pacific Ocean), 2 Inmarsat (Indian and Pacific Ocean Regions)
Radio broadcast stations: AM 258, FM 67, shortwave 0
Radios: NA
Television broadcast stations: 134 (1987 est.)
Televisions: 9.2 million (1992 est.)
Defense———
Branches: Australian Army, Royal Australian Navy, Royal Australian
Air Force
Manpower availability: males age 15–49: 4,848,777 males fit for military service: 4,192,250 males reach military age (17) annually: 127,569 (1996 est.)
Defense expenditures: exchange rate conversion - $7.3 billion, 2.0% of GDP (FY95/96)
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@Austria———
Map—
